Contains on a timely subject that the height of stocks of amazon and google and others and with a broad scope why this book and why now . Thank you for having me by the way. I started this book in 2017. I had just taken a job as a columnist the mandate was to figure out the World Biggest business in opinion form which is a rather large mandate and in order to narrow the funnel, started to look through corporate numbers i saw how well they transition from the Financial Sector to the Technology Sector since a great financial crisis and one number that stuck out was looking at how 80 percent of corporate wealth was being held than 10 percent of the firms. Those were the richest in personal data and intellectual property. You are holding the majority of the worlds corporate wealth and the majority of those are that i profile in the book. Netflix and google. Host there are some overlap like facebook and google with Digital Advertising and apple has shunned advertising and technology. Huber
Money away for loan loss reserves. Alison Williams Joins me now. What were some of your takeaways. [no audio] actually, we are still working on her audio, so lets go to Annmarie Hordern first. Part of what we heard was from fatih birol of the iea talking about how bad demand would be, despite any production deal. Annmarie some seriously drastic headlines out of the iea. The other part is what they are talking about what this means for storage. It is testing the logistic capacity to the limit. On the demand side, they see april serious demand destruction, down 29 Million Barrels a day. For the year, what that means is 9. 3 Million Barrels a day, the worst we have ever seen on record in terms of demand. What the opec cuts probably did was maybe pull us back a little bit from the brink, but not doing that much. You can see that with what is talking about in storage. They say that could be exhausted by the middle of the year. All of this putting downward pressure on the future prices. Wti
Harrington is the ceo and Portfolio Management at Gilman Hill Asset management, rob sechman is one of forbes top 100 Financial Advisers and rich sapperstein is back. He, as well, a top Financial Adviser, barrons, in the top 100 there. Lets get to the board, show you where we were currently trading. Pretty much highs of the day 550 for the dow, 2. 25 , 24,646 s p 500 trying to push towards 3,000, a gain of 2. 5 today, a gain of 73 points. Nasdaq, the outperformer of the majors at 3 , and theres the russell, which is having a good day as well, with a nearly 5 gain some 61 points there dow going for its best month since 87. The question is what all of this means for the coming days, weeks, and months ahead. Joe, im going to go to you first. You look at the drivers today, i mentioned the gilead news, and that is clearly overshadowing what was a dreadful gdp number fauci now is talking about the clearcut positive effects of this remdesivir trial. Boeings calhoun, the ceo saying the thaw is
In 2009 when the last crash when it was just 12 trillion 6600000 unemployed last week thats on top of the you know millions of others in the previous weeks 5. 5 plus its 3. 6 plus blah blah blah so now we have 17000000. 00 unemployed thats over 10 percent Unemployment Rate and of course during this chaotic time during that announcement of the new unemployment numbers we saw the fed introduce some new sort of 2. 00 trillion dollars scheme whereby theyre going to buy high yield the bond e. T. F. I jumped at i e well the fracking debt all that fracking debt thats blowing out right we knew that fracking industry was going to go belly up and that it would require a government bailout we said that was a 100 percent guaranteed and we were right you know us thing but Mainstream Media not only are they forced to be broadcasting other basement but only channel 4 in the u. K. Now bankrupt and for us to be on the street and Speakers Corner blabbering about whoever they may gather in these times of
A week is not enough theyre like we want more we want more well you know its possible but you have to make a big noise and let the people know that you want more max and stacey more kaiser reports yeah they said max we are reporting from our headquarters in the coronavirus zone and you know what the National Debt is past 24 trillion dollars and the past week i remember back in this innocent balloon boy started days back in 2009 when the last crash when it was just 12 trillion 6600000 unemployed last week thats on top of the you know millions of others in the previous weeks 5. 5 plus thats 3. 6 plus blah blah blah so now we have 17000000. 00 unemployed thats over 10 percent Unemployment Rate and of course during this chaotic time during the announcement of the new unemployment numbers we saw the fed introduce some new sort of 2. 00 trillion dollars scheme whereby theyre going to buy high yield the bond e. T. F. I junk debt i. E. Well the fracking debt all that fracking debt thats blowin